Market Cap Dips Below $4 Trillion
The global cryptocurrency market capitalization dropped to $3.97 trillion, down 1.76% in the past 24 hours. Bitcoin is trading at $117,568 (-1.20%), while other major assets show mixed performance amid broader risk-off sentiment.
➡️ Bitcoin Hits a Technical Milestone
For the first time ever, Bitcoin’s 200-day moving average has broken $100,000. This milestone underscores sustained institutional confidence and signals bullish momentum, even as BTC consolidates after its recent pullback from all-time highs.
➡️ Ethereum Faces Pullback
Ethereum slid 5.09%, dropping below $4,400 after stalling near all-time highs. Over $3.2 billion worth of ETH remains stuck in validator exit queues, raising liquidity concerns. Despite the correction, analysts still eye $5,000–$6,000 targets for August.
➡️ Federal Reserve Outlook
Markets are now pricing in three 25 bps rate cuts before year-end. Futures reflect a 96% probability of a September cut, as weak job data and easing inflation boost expectations for a more accommodative Fed policy.
➡️ SEC’s “Project Crypto” Advances
The SEC is ramping up its regulatory overhaul. Chair Paul Atkins stated that most cryptocurrencies should not be considered securities, while pushing staff to finalize guidelines around custody, trading, and token distributions.
➡️ Hackers Cash Out Amid ETH Rally
Exploiters liquidated $72M in stolen funds during Ethereum’s rally. The Radiant Capital hacker alone booked $48.3M in profits, adding to their prior $53M theft. This highlights persistent security risks even in bullish markets.
➡️ Treasury Stocks Under Pressure
Crypto treasury-heavy firms such as Strategy and Metaplanet saw sharp stock declines as Bitcoin pulled back from $124K highs. Their performance remains highly leveraged to BTC’s price swings.
➡️ Stellar Shows Resilience
Stellar Lumens (XLM) held strong at $0.42 support, backed by record wallet growth and increasing TVL. Analysts see potential for a breakout toward $0.50 resistance if momentum continues.
Overall: The market shows short-term turbulence with ETH weakness and macro uncertainty, but long-term signals remain bullish — led by Bitcoin’s historic technical milestone and institutional demand.